Net Sales Proceeds from Property Dispositions

3 Months Ended

Mar. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Net Sales Proceeds from Property Dispositions

Net Sales Proceeds from Property Dispositions

During the three months ended March 31, 2015, Piedmont sold the 3900 Dallas Parkway building located in Plano, Texas. The transaction resulted in net sales proceeds of $25.8 million and a gain on sale of $10.1 million which are included in the accompanying consolidated statements of cash flows and the consolidated statements of income, respectively.

Additionally, as part of the sale of the Copper Ridge Center building in May 2015, Piedmont accepted a secured promissory note from the buyer for $45.4 million. During the three months ended March 31, 2016, the note receivable was repaid in full and such proceeds are reflected in the accompanying consolidated statements of cash flows as net sales proceeds from the sale of wholly-owned properties.